Reminder from your team at Financial Plans & Strategies for Indiana Residents:
Indiana College Choice 529 Tax Credit Deadline:
Indiana taxpayers who invest in the Indiana College Choice 529 Plan must be sure their contributions are invested in their plan(s) by 12/31/2023 to receive a tax credit for 2023.
IMPORTANT DEADLINE DATES
If you are adding money to an existing account:
Again, the monies must be invested in the 529 College Choice account by 12/31/23 in order to receive the tax credit for 2023.
Making contributions by check:
we strongly urge you to send it no later than 12/1/2023, the sooner the better to avoid complications with mail time and processing:
- Send your check payable to College Choice
Standard Mailing Address:
College Choice 529 Direct Savings Plan
PO BOX 219418
Kansas City MO 64121
College Choice 529 Direct Savings Plan
920 Main St, Suite 900
Kansas City MO 64105
To contribute / distribute to EXISITNG accounts online using bank or address that is ALREADY linked:
we strongly urge you to call our office or login and initiate your request no later than 12/10/2023, the sooner the better to avoid complications on processing:
- You may call our office to initiate the contribution / distribution.
- You may login to your account
Go to: https://www.collegechoicedirect.com/(you can click on that hyper link to take you to the website)
Login into your account. If you have never logged in, you simply sign up for online access by clicking Login then Sign up for online access.
Once logged in you can:
- Make a contribution from your bank account using existing bank already linked.
- Change your bank information. (see deadline date below if you do this)
- Request a distribution.
- Change your address or contact information. (see deadline date below if you do this)
- Download statements for your taxes.
- And much more
To contribute / distribute online using A NEW bank account or address NOT YET LINKED (includes changing banks):
we strongly urge you to login and update your bank or address no later than 12/1/2023, the sooner the better to avoid complications with mail time and processing:
- There is a mandatory 15 Calendar Day Hold on accounts when you add / update a bank or address.
- If you would like our office to assist you with this, please reach out to us by 11/17/23 so that we can send you the form(s) needed. We are unable to update this information online for you.
To contribute by phone using bank information ALREADY linked:
We suggest doing so by 12/10/2023.
- You may call College Choice to make the contribution / distribution at 1-866-485-9415.
You will need to have your CC 529 account number at hand.
For those who would like to establish a NEW Indiana College Choice 529 Plan for someone
we strongly urge you to follow the steps below no later than 12/1/2023, the sooner the better to avoid complications with account and bank set up.
- Go to: https://www.collegechoicedirect.com/
- Click: Enroll Now and follow the steps to open the account and link your bank to make the contribution
!!! Note: if you would like our office to be named as an authorized agent on the account and receive statements; please notify our office once you have opened the account.
If you need assistance in doing this, and would prefer our office send you hard copy forms, please reach out to our office no later than 11/17/2023so that we have time to obtain the information from you, send them out via hard copy mail to you, receive them back and submit them allowing enough time for the 15 day holdCollege Choice places before contributions can be made.
- The maximum tax credit is 20% per household. On a 7,500 investment, this results in a $1,500 tax credit on your Indiana state return.
- We send this email out near year end, to make certain that you have all of the information you need to make your 2023 contributions on time. If you have any trouble, please call our office. We can assist with hard copy forms, as we do throughout the rest of the year, but please make note of the time frame for our office to get those forms mailed out, received and submitted.
Please call the office with any questions.
Your Team at Financial Plans & Strategies, Inc